Poundworld sets its sights on The Rushes

Poundworld has now confirmed to the Echo that it is coming to Loughborough and has submitted plans to Charnwood Borough Council for permission to display two illuminated fascia signs and one illuminated projecting sign.

LOUGHBOROUGH looks set to get yet another bargain retail store after Poundworld revealed plans to move into the former HMV unit in The Rushes.

The town is already home to retailers such as Poundland, Poundstretcher, 99p stores and Bonkers.

But Poundworld has now confirmed to the Echo that it is coming to Loughborough and has submitted plans to Charnwood Borough Council for permission to display two illuminated fascia signs and one illuminated projecting sign.

Lez Cope-Newman, vice-chair of Loughborough’s Business Improvement District (BID), told the Echo that, while he is pleased the unit is being filled, the town still needs to bring in an ‘anchor’ store such as Waitrose in order to attract more big name retailers and higher income families to shop in the area.

He said: “I think we all want Harrods and Fortnum & Mason in Loughborough but that is never going to happen.

“Experian research says we sit in the middle to low (income families category) and until we get an anchor store like Waitrose we will always sit middle to low and that does not attract a great deal of big names and that is our handicap.

“But the BID are delighted someone has taken it over. It is an iconic corner.”

In 2012, Experian, which provides information to high street retailers when they are looking at opening a new store, collected data on the shopping habits of people in Loughborough. It found that a high proportion of the town (around 29 per cent) were mid to lower income families “restricted by tight budgets but living to give their children the best they can”.

The data also showed that 74 per cent of the money people spend goes outside of the town.

Coun David Slater, leader of Charnwood Borough Council, told the Echo: “I think Loughborough as a whole would benefit greatly from a wider variety of shops.

“Nonetheless, there is a market for low cost pound shops and people are finding them useful.”

When asked if he thinks it will improve the offering in The Rushes, he said: “I think the main attractors to The Rushes are still the big national shops.”

Coun Stephen Hampson, the council’s lead for leisure, added: “The market will dictate what is going into The Rushes.

“I think another pound shop will be fine.

“I think there are other retailers that would be helpful to the overall environment of Loughborough.”

The unit in The Rushes has been empty since 2013 when HMV, which mainly sold CDs and DVDs, went into administration.